Directors’ benefits cont’d The directors’ benefits paid to or receivable by directors in respect of the financial year ended 31 December 2022 are as follows: From the Company From the subsidiary companies RM’000 RM’000 Directors of the Company: Fees 839 - Remuneration 9,434 2,498 Total short-term employee benefits 10,273 2,498 Short-term lease payments - 210 10,273 2,708 There were no arrangements during and at the end of the financial year which had the object of enabling Directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate. Issue of shares and debentures On 21 March 2022, the Company proposed to undertake a private placement of up to 163,398,700 new ordinary shares (“Placement”). The issue price was fixed at RM5.94 per share on 28 March 2022 and the Placement was completed on 8 April 2022 following the listing and quotation of the 163,398,700 new ordinary shares on the Main Market of Bursa Malaysia Securities Berhad. The total gross proceeds raised was RM970,588,000. There were no other changes in the issued and paid-up capital of the Company during the financial year. There were no debentures issued during the financial year. Options granted over unissued shares No options were granted to any person to take up unissued shares of the Company during the financial year. Indemnity and insurance costs During the financial year, the total amount of indemnity sum insured and premium paid for Directors and officers of the Company are RM30,000,000 and RM177,000 respectively. This sum exclude coverage for the auditors of the Company. Qualification of subsidiaries’ financial statements The auditors’ report on the audit of the financial statements of the Company’s subsidiaries did not contain any qualification. DIRECTORS’ REPORT Cont’d PRESS METAL ALUMINIUM HOLDINGS BERHAD 199
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